Economist: "Fiscal cliff" deal will lead to more construction

Construction spending in November declined 0.3% from October but was up 7.7% compared with last year's figures. Tuesday's deal in Congress to avoid going over the fiscal cliff "should encourage many businesses to go ahead with projects they have held in reserve," said Ken Simonson, chief economist of the Associated General Contractors of America. Simonson said he expected construction spending in the next few months to see double-digit gains.